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Nifty Prediction for Thursday, April 16 by experts: Indian equity markets witnessed a strong rebound on Wednesday, April 16, on optimism over easing geopolitical tensions after US President Donald Trump indicated that the conflict with Iran could be nearing an end. The easing geopolitical concerns, coupled with cooling crude oil prices, also boosted investor confidence and risk appetite.
On Wednesday, the benchmark indices ended the session on a strong note, with the Nifty rising 1.63 per cent, or 388.65 points, to close at 24,231.30. The Sensex, on the other hand, also gained 1.64 per cent, or 1,264 points, to settle at 78,111.24.
Heading into Thursday’s trading session, analysts expect the Nifty to retain a positive bias, although consolidation near key resistance levels is likely after Wednesday’s sharp upmove.
Nifty Prediction for Thursday, April 16 by experts
Technical experts suggest that while the underlying trend has turned decisively positive, the trading session on Thursday may see the index ‘digesting’ Wednesday’s massive gap-up through a phase of consolidation or range-bound volatility.
Nifty Prediction for Thursday, April 16 by Nagraj Shetti
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “After witnessing a fine recovery from the lows on Monday, Nifty shifted into an excellent bounce back on Wednesday, amidst broad-based buying and closed the day higher by 388 points. After opening on an upside gap of 321 points, the markets moved up further and later shifted into a range-bound action for the better part of the session. The opening upside gap remains unfilled.”
After the formation of a series of lower tops and bottoms on the daily chart last month, Nifty seems to have formed a new higher bottom on Monday at 23555 levels. This market action indicates a significant reversal of the trend on the upside. The huge opening upside gap of 8th April remains partially filled after five sessions of its formation. This is a positive indication, Shetti stated.
“The underlying short-term trend of Nifty continues to be positive. On the way up further, Nifty could find overhead hurdles around 24500 and 24800 levels in the near term. However, immediate support is placed at 24000-23900 levels,” the analyst concluded.
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Nifty50 daily chart – April 15
Nifty Prediction for Thursday, April 16 by Sachin Gupta
Sachin Gupta, VP – Research (Technical) at Choice Broking, highlighted that after the initial 321-point gap-up, the index moved into a narrow band, forming a small-bodied bullish candle.
Indian equity benchmarks witnessed a positive close on 15th April 2026. The index opened with a strong gap-up of 321.15 points at 24,163.80, reflecting continued positive sentiment. In the initial phase of the session, the index recorded both its intraday low of 24,145.80 and high of 24,280.90, indicating early volatility. Thereafter, the index shifted into a consolidation phase, moving within a narrow band for the rest of the session. The index eventually settled at 24,231.30, registering a gain of 388.65 points or 1.63%,” Gupta stated.
On the daily timeframe, the index formed a small-bodied bullish candle with consolidation characteristics, indicating a pause after the recent upmove, Gupta said, noting that this suggests that while buying interest persists, the market is currently digesting recent gains before the next directional move.
For Thursday, Gupta sees immediate support in the 24,000–24,070 zone, while resistance is observed in the 24,400–24,450 range. “The Relative Strength Index (RSI) stands at 55.86, sustaining above the midpoint level, which indicates strengthening bullish momentum,” the analyst added.
- 20 Day EMA – 23,612.23
- 50 Day EMA – 24,189.45
- 100 Day EMA – 24,693.36
- 200 Day EMA – 24,830.15
The volatility index, India VIX, declined by 8.94% to close at 18.67, reflecting reduced market volatility and improved investor confidence. In the derivatives segment, notable call writing was observed at the 24,300 and 24,500 strike levels, indicating overhead resistance. On the put side, significant writing at 24,200 and 24,000 levels suggests strong support at lower levels, Gupta stated.
“Sectorally, the market witnessed broad-based buying, with notable strength in IT, Realty, Consumer Durables, and Oil & Gas sectors. The positive market breadth, with a significantly higher number of advancing stocks compared to declines, further supports the bullish undertone,” he added.
Bank Nifty Outlook for Thursday
The Bank Nifty index opened with a gap-up of 738.40 points at 56,343.45, reflecting strength in the banking space. Similar to the broader market, the index recorded both its intraday low of 56,109.20 and high of 56,786.25 during the early part of the session. Subsequently, it traded in a range-bound manner, consolidating its gains through the day. The index eventually closed at 56,301.95, gaining 696.90 points or 1.25%. On the daily timeframe, a gap-up session resulted in a positive close, but the candle formed in today’s session has a long upper wick. It simply reflects rejection at higher levels, signalling potential resistance overhead, Gupta noted.
From a technical perspective, immediate support is placed in the 55,800–55,900 zone, while resistance is observed in the 56,600–56,800 range. The Relative Strength Index (RSI) stands at 55.18, holding above the midpoint level, indicating continued positive momentum.
“Markets extended their gains with a gap-up opening, followed by a phase of consolidation, indicating stability after the recent rally. The decline in volatility and strong market breadth reflect a positive undertone. Going forward, a sustained move above key resistance levels will be crucial to confirm continuation of the ongoing bullish trend,” Gupta concluded.
Nifty gainers and losers on Wednesday, April 15
Broader markets outperformed the headline indices, reflecting strong participation from mid- and small-cap stocks.
The Nifty MidCap rose 2.20 per cent, while the Nifty SmallCap advanced 2.35 per cent.
On the sectoral front, construction-related stocks led the gains, with the Nifty Construction Durable index emerging as the top performer.
The IT and media sectors also saw strong buying interest — indicating improved investor confidence in growth-oriented segments.
However, not all sectors participated equally in the rally. The Nifty PSU Bank index lagged the broader market, reflecting relative weakness in state-owned banking stocks.
Meanwhile, the rupee traded marginally stronger near 93.36, supported by improving sentiment after the second round of US–Iran talks, which has led to a cooling in crude oil prices over the past two sessions.
